Standard Bank Insurance - A ******* den of vipers.

Hello Peter,

Standard Bank Insurance, according to your website has a disgraceful average rating of 1.48 from 3023 reviews. Hence, nearly every one of the 3023 reviews so far has been a complaint. Reading the latest reviews, other insurance holders with standard bank have be subjected to the same mortifying, abysmal, non-service that I am on this site to complain about. It is apparent that Standard Bank insurance does not give two hoots about any of their insurance claimants’ applications and concerns and have taken to a modus operandi of disregarding and ignoring their claimants outright in order to avoid paying out claims.

In my case, I was burgled on the 4th December 2020. During this time 2 Dell laptop computers, 2 cellphones (Samsung and Huawei) and other items valued at approximately R35,000 (cost value, not replacement value.) were ******. All formalities with SAPS were concluded on the 5th December before making our insurance claim with Standard Bank Insurance. Since then it has been a duck and dive game with Standard Bank Insurance simply ignoring all my queries. The few times that they do respond is with a general e-mail address with no contact details and no tangible contact person except for Stansure Claims. After many frustrating unanswered queries I was finally sent an “Agreement of loss” on 22 February 2021, to settle for an amount of R1307.55. There was no rationale relating to what items were being honoured and which were being denied or how the insult of an amount of R1307.55 was arrived at. I rejected the arbitrary “Agreement of Loss” on the same day and requested the name of and contact details of a manager. That was the very last time I heard from Standard Bank Insurance. Today is 132 days since the burglary and I have had no relief from Standard Bank Insurance as yet. So much for the adverts claiming fast and professional services. Why do Standard Bank Insurance keep up this farce of being an insurance provider as understood by most of humanity while operating as a ******* ***** cartel, taking clients monies over decades and denying pay-outs when these are due? • Standard Bank Insurance act with impunity simply because there is very little recourse available to their policy holders in South Africa. • They rely on the rejections of their assessors who are incentivised to reject your claims which is a conflict of interest and a double edged sword against claimants. • They ensure that the lines of communication available to claimants are few, vague and restrictive. • Their plan is to frustrate claimants to such an extent that that give up their claims, cancel their contracts and move to another insurance provider, thereby forfeiting their claim and the premiums they have paid over to Standard bank insurance for as many years that they have been members. • There are no investigations into these cases and no fines imposed upon Standard Bank Insurance for such behaviour. • This is a very profitable market model with zero consequences.

I for one will not be taking this matter lightly and will be fighting it on a matter of principle. I plan to expose Standard Bank Insurance for the ******* den of vipers they are.